Signature Global IPO: GMP, subscription status, other details. Apply or not?
Signature Global IPO: The initial public offering (IPO) of Signature Global opened for subscription on Wednesday and it will remain open for bidders till 22nd September 2023 i.e. on Friday this week. The realty company aims to raise ₹730 crore from its public offer and it has fixed Signature Global IPO price band at ₹366 to ₹385 per equity share.
As per the Signature Global IPO subscription status of the public issue after day one of bidding, the public offer has been subscribed 0.54 times. As per the market observers, shares of Signature Global are available at a premium of ₹34 in grey market today. According to market observers, Signature Global IPO grey market premium (GMP) today is ₹34, which is ₹6 lower from its Wednesday GMP of ₹40.
They said that Signature Global IPO GMP dipped on Thursday due to weak sentiments on Dalal Street as key benchmark indices and broad market indices fell on Wednesday. This got reflected in investors' response to the public issue as well but the IPO managed to pass 50 per cent mark of its original offer on day one of bidding, which is praiseworthy if we look at the size of the public issue. They expected improvement in investors' response as they generally came in bulk on last day of bidding.
Click here to read Signature Global IPO details Market observers said that Signature Global IPO GMP today is ₹34, which means grey market is expecting that Signature Global IPO listing price would be around ₹419 ( ₹385 + ₹34), which is around 9 per cent higher from its price band of ₹366 to ₹385 per equity share. They said that grey market is signaling that Signature Global IPO may deliver around 9 per cent listing gain to its investors even when the market mood is negative on Dalal Street. After
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